Celebrated every year on July 24 as the National Income Tax Day, or Aaykar Divas, to marking the historical development of tax administration in the country

• This day commemorates the historical evolution of tax administration in India and the ongoing reforms that aim to enhance tax compliance and simplify the process for taxpayers.
• Income tax was first levied as a duty in India in 1860.
• Celebrated for the first time in 2010 marking 150 years of the introduction of Income tax in India.
• This year marks the 165th occasion of National Income Tax Day.
• Income tax is a tax levied by the government on the income earned by individuals and businesses throughout the fiscal year.

Prime Minister Narendra Modi has extended greetings to Central Reserve Police Force (CRPF) personnel on the occasion of CRPF’s Raising Day.

• Observed on July 27, 2024, to celebrate the guardians of our country.
• The Central Reserve Police Force (CRPF) is the largest paramilitary force in India, playing a pivotal role in maintaining internal security.
• Its journey began on July 27, 1939, when it was established as the Crown Representative’s Police.
• It was renamed the Central Reserve Police Force in 1949.

July 27, 2024, marks the 9th death anniversary of Dr Kalam, a visionary scientist, educator, and the 11th President of India.

ABOUT APJ ABDUL KALAM

• Born on October 15, 1931, in a modest family in Rameswaram, Tamil Nadu.
• Education : acquired a degree in aeronautical engineering from the Madras Institute of Technology.
• In 1958, Dr APJ Abdul Kalam joined DRDO and later moved to ISRO in 1969, where he led the development of India’s first satellite launch vehicle, the SLV-III.
• Returning to DRDO in 1982, he spearheaded the Integrated Guided Missile Development Programme, earning the title “Missile Man of India.
• Dr Kalam served as 11th President of India from 2002 to 2007 and was honoured with the Padma Bhushan and Bharat Ratna.
• Books, such as “Wings of Fire” and “Ignited Minds,” inspired millions to dream big and work for the nation’s progress.
• Death : On July 27, 2015, he was passed away due to a cardiac arrest.

Celebrated on  July 29

• It is a global initiative focused on protecting the natural habitats of tigers and raising public awareness about their conservation.
• Aim : to promote tiger conservation, raise awareness about the threats faced by tigers and garner public support for conservation.
• This day was established in 2010 during the Saint Petersburg Tiger Summit, held in St. Petersburg, Russia, was organised by the Global Tiger Initiative (GTI).

Current Context : Recently, the Sangameswara temple submerged in the backwaters of Srisailam project in Nandyal district following the inflow of Krishna River.

ABOUT SANGAMESWARA TEMPLE

• Location : It is located on the Krishna River bank in Nandyal district of Andhra Pradesh.
• Built by Chalukya ruler Pulakesi II in 740 AD.
• Significance : It is a Hindu Temple dedicated to Lord Shiva.
• The temple was dismantled and built exactly rock-to-rock at its present location in 1979, due to submergence caused by the Srisailam Dam construction.
• Architecture Style : Nagara style, the temple is built on an elevated platform with a fortified wall surrounding the temple.
• The temple has a large hall with 12 pillars, adorned with intricate engravings of Lord Vishnu, Brahma, Kumaraswamy, and celestial couples.

Current Context : Goa Shipyard Limited (GSL) successfully launched the first indigenous P1135.6 Frigate, Triput, marking a significant step forward for India’s naval capabilities.

ABOUT TRIPUT :

• The Triput class ships, built for combat operations against enemy surface ships, submarines, and aircraft, have advanced weaponry and sensor systems.
• Length : 124.8 meters long and 2 meters wide, with a draft of 4.5 meters and a displacement of around 3600 tons.
• Speed : 28 knots.
• Equipments : including weapons and sensors, is of domestic origin, ensuring significant defense production within the country.
• Triput class ships are based on the Teg and Talwar class ships obtained from

Current Context : Bolivia to get full membership in MERCOSUR in order to increase trades with member countries.

ABOUT MERCOSUR

• Mercosur, or the Southern Common Market, is an economic and political bloc.
• Objective : to promote economic integration, free trade, and the movement of goods, services, and people among member countries.
• Established in 1991 by signing the Treaty of Asunción, an accord calling for the “free movement of goods, services, and factors of production between countries.”
• Member Countries : Argentina, Brazil, Paraguay, and Uruguay.
• Associate countries : Chile, Colombia, Ecuador and Peru.
• Languages : Spanish and Portuguese.
• Headquarter : Montevideo, Uruguay.

Current Context : During the Budget 2024 presentation, Finance Minister Nirmala Sitharaman announced that the government will abolish the ‘angel tax’,for  providing a boost to both angel investors and startups.

ABOUT ANGEL TAX:

• Angel tax (income tax at the rate of over 30%) refers to the income tax that the government imposes on funding raised by unlisted companies, or startups, if their valuation exceeds the company’s fair market value.
• The angel tax, introduced through Section 56(2)(viib) of the Income Tax Act in 2012, required private companies to pay tax on the excess amount received for issuing shares beyond their fair market value.
• This tax applied to investments from both resident and non-resident investors.

Current Context : President Droupadi Murmu announced the renaming of two halls in the Rashtrapati Bhavan – ‘Durbar Hall’ and ‘Ashok Hall’ – as ‘Ganatantra Mandap’ and ‘Ashok Mandap’.

ABOUT DARBAR HALL AND ASHOK HALL

• Construction of the Rashtrapati Bhavan was completed in 1929 after King George V declared that the capital of British India would be shifted from Calcutta to Delhi in 1911.
• The hall hosts Civil and Defence Investiture Ceremonies, where the President confers honours to the recipients. Swearing-in ceremonies, like those of the Chief Justices of India, are also conducted here.
• Durbar Hall witnessed a historic moment in the swearing-in ceremony of independent India’s first government in 1947.
• ‘Ashok Hall’ was originally a
• It is now used for the presentation of credentials by Heads of Missions of foreign countries and as a formal place of introductions for the visiting and Indian delegations before the commencement of the State Banquets hosted by the President.
• A loft-like space is used for playing the national anthem during important functions

Current Context : Coal Minister Shri G Kishan Reddy launched Vriksharopan Abhiyan – 2024 in Bharat Coking Coal Limited (BCCL), Dhanbad, Jharkhand.

This project is part of Prime Minister Narendra Modi’s “Ek Ped Maa Ke Naam” program and took place in 300 places in 47 districts across 11 coal– and lignite-rich states.

ABOUT VRIKSHAROPAN ABHIYAN 2024

• The Indian government’s Vriksharopan Abhiyan 2024 program aims to plant more trees.
• Aim : to cover 15,350 hectares with green cover in the next five years, including a target of 2,600 hectares for the current fiscal year.
• It was made to fight climate change and air pollution.
• To increase variety, it focuses on local species.
• It includes the neighborhood, schools, and non-governmental organizations (NGOs).
• Technique used : the Miyawaki method, seed balls, and drone technology to optimize reforestation efforts and resource use.